Many countries have undertaken market-oriented reforms of the power sector over the past four decades. However, the literature has not investigated whether the reforms have contributed to economic development. This study aims to assess the potential macroeconomic impacts of an element of the...

Top-down economic models, such as computable general equilibrium models, are the common tools to assess the economic impacts of climate change policies. However, these models are incapable of representing the detailed technological characteristics of the sources of greenhouse gas emissions. The...

This paper investigates whether and how property tax limits impact female labor supply during the housing boom and bust. Theory predicts that property tax limits increase non-labor income during the housing boom and decrease non-labor income during the bust periods, leading to opposite effects...

Previous studies often interpret the positive impact of high-skill human capital on the mean wages of low-skill workers as evidence of human capital externalities. We uncover a distributional wage effect that is difficult to reconcile with standard models of human capital externalities:...

This paper uses data from a large survey of Chinese firms to investigate whether local government efforts to facilitate market development improve firm efficiency. Both government provision of information about products, markets, and innovation and government assistance in arranging loans are...

Perennial energy crops are a promising source of bioenergy whose production involves production risks, long term commitment of land and need for crop-specific investments without the coverage of crop insurance potentially available for conventional crops. We conduct a choice experiment in five...